Kyobo Securities announced on the 2nd that its ‘Retirement Pension Robo-Advisor (RA)’ equipped with artificial intelligence (AI) algorithms has been designated as an Innovative Financial Service by the Financial Services Commission.
Since the end of 2022, Kyobo Securities and Kyobo DTS formed a consortium and passed the 22nd Robo-Advisor Testbed evaluation hosted by Koscom, demonstrating achievements as well as security and stability.
With this designation as an Innovative Financial Service, cooperation among group affiliates in the new business sector aimed at Kyobo Group’s digital innovation is expected to be further strengthened.
Targeting the first half of next year, they plan to launch a discretionary AI retirement pension service reflecting retirement pension constraints and U.S. Exchange-Traded Funds (ETFs) to capture the pension market.
Furthermore, they intend to build a system that monitors investment results based on comprehensive customer profiles and analyzes big data to maximize investment performance in response to market changes.
Cho Seong-ho, Head of Asset Management Division at Kyobo Securities, said, "This designation as an Innovative Financial Service will be a pillar in accelerating Kyobo Group’s digital innovation, enhancing competitiveness in the pension market through an optimal system utilizing AI algorithms."
Meanwhile, Kyobo Securities reorganized its structure at the end of last year and established the Asset Management Division, which integrates and operates the WM Business Headquarters and the IPS (Investment Product Service) Headquarters. They plan to strengthen retail channels and provide new asset management services to digital customers.
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